Tucson builders surpassed $10 million in purchases for July and August. A summary of each transaction follows:

BUILDER CASH PURCHASE
Southeast Submarket
This article has been archived, please login for access or subscribe now by going to the subscribe tab at the top of page.

[mepr-show rules=”58038″]At New Tucson Unit 5 – D.R. Horton acquired 51-SFR finished lots for $1.715 million ($33,600 per lot) from NT Properties (Steve Russo, et al). New Tucson lots vary in size from 55’ to 70’ x 100’. (sale date: 8/2/2013. APNs: 305-30-086 thru 099, 101, 104 thru 107, 109 thru 119, 121, 127 thru 134; 305-26-014, 090, 111, 126, 141, 202E, 145, 147, 155, 048, 128, 136. All cash deal.)

BUILDER OPTION PURCHASES
Northwest Submarket
At Tangerine Crossing – Richmond American Homes took down 3-finished lots for $203,400 ($67,800 per lot) from MFV-FC Portfolio of Charlotte, NC. Richmond has an option agreement for 63 finished 55’ wide lots that began October, 2012. (sale date: 7/17/2013, APN: 219-37-090 thru 092. All cash deal.)

West Submarket
At Sonoran Ranch II – D.R. Horton purchased 24-finished SFR lots for $612,000 ($25,500 per lot) from Son Land Company of Torrance, CA (Luigi Schiappa, managing member). The option agreement started Q1 2013 for 52-finished SFR lots. This is the third and final takedown. Sonoran Ranch II is located west of Tucson near Star Valley and offers six models ranging in price from $141,900 to $193,900. The lots are 55’x 110’, average lot size is 6,050 sq. ft. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller. (sale date: 8/1/2013. APNs: 210-55-514thru 520, 540, 549 thru 559, 566 thru 570. All cash deal)

West Submarket
At Caddis Haley Estates – D.R. Horton took down 9-SFR finished lots for 180,000 ($20,000 per lot) from Caddis Bridge, LLC of Tucson (Greg Anderson, manager). The subdivision is located at Valencia and Vahalla. Lot sizes are 45’ wide and the option agreement is for 134-lots that started in June 2012. D.R. Horton offers five floor plan models ranging in price from $127,900 to $160,000. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller in the transaction. (sale date: 7/3/2013. APNs: 210-36-018 thru 020, 127, 128, 135, 136, 159, 160. All cash deal.)

West Submarket
New Builder joined Caddis Haley Estates – LGI Homes of Texas (Chirs Kelly) took down 24-SFR finished lots for $588,000 ($24,500 per lot) from Caddis Bridge, LLC of Tucson (Greg Anderson, manager). Lot sizes are 45’ wide and this is the first phase of an option agreement for 72-lots. LGI have secured lots in Caddis Haley and Sonora Ranch and expect to be selling homes by the end of the year. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller in the transaction. (sale date: 8/28/2013. APNs: 210-36-087, 089 thru 112. All cash deal. LGI financing construction if through the Bank of Texas)

South Submarket
At Sahuarita Highlands – D.R. Horton took down 5-finished SFR lots for $215,000 ($43,000 per lot) from Red Point Development (Daniel Leung, President) of Tucson. The option agreement is for a total of 153 lots. Sahuarita Highlands offers five floor models that range in price from $187,900 to $206,900. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller. (sale date: 8/14/2013, APNs: 303-54-155 thru 157, 066, 067. All cash deal.)

BUILDER CASH PURCHASES OF RAW LAND
Northwest Submarket
A.F. Sterling HomeBuilders of Tucson (Randy Agron, Vice-President) bought 17.37 acres of raw land at Lambert and Old Father in Pima County for $420,000 ($84,000 per lot) to subdivide into five 3.3 acre parcels for semi-custom home construction by buyer. The seller was Lim Revocable Trust of Tucson. Jeremy Braun of Jeremy J. Braun in Tucson handled the transaction for buyer and seller. (sale date: 7/2/2013, APN: 224-16-0140, all cash.)

HOLD FOR INVESTMENT
Southeast Submarket
Vail, AZ – Sonoran Development of Prairie Village, KS traded into 23.19 acres of raw land valued at $221,000 ($9,530 per acre) to hold for investment. The property at Dusty Silver Spur Way and Colossal Cave Road is south of Saguaro National Park and near 414 additional undeveloped acres owned by the buyer. 2718, LLC of Tucson (Matthew McKenzie, Principal) was the seller.
(Sale date: 7/18/2013, APNs 205-76-060A, 061A, 64C, 065A, down payment was zero on the affidavit of value)

Northwest Submarket
Marana, AZ – Jon Post of Marana bought 30.59 acres of undeveloped land in Marana for $200,000 ($6,538 per acre) from T& J Family Limited Partnership, LLP of Marana. The buyer owns Post Farms which is in area of the purchase. (sale date: 7/19/2013, APN: 217-45-003A, 0040, all cash.)

See also https://realestatedaily-news.com/richmond-american-building-new-communities-north-and-south/ for $2.65 million – two Richmond American communities.

See also https://realestatedaily-news.com/new-aerie-community-planned-for-sabino-canyon-river-road/ for $1.4 million – Aerie Community at River & Sabino Canyon.

See also https://realestatedaily-news.com/the-pines-d-r-hortons-newest-community/ for $2.28 million – D.R. Horton’s new community “The Pines”.[/mepr-show]

Richmond American Homes of Arizona (James Gaulin, Director of Land Acquisition) acquired 36 SFR lots at Gladden Farms Block 17 for $1.3 million ($36,500 per lot) in Marana, a community in Northwest Tucson. The finished lots are 65’ x 112’ in this partially built out community. Richmond has constructed 47-homes in Block 8 at Gladden Farms, known as Arbors at Gladden Farms, and with only six lots remaining in that subdivision, moved over to Block 17 to continue building its popular models. The seller was Bell Hollow, LLC (Steve Russo, managing member) of Tucson.

This article has been archived, please login for access or subscribe now by going to the subscribe tab at the top of page.

[mepr-show rules=”58038″]Meanwhile in the South of Tucson, Richmond American bought 39-lots at Sycamore Point for $1.35 million ($34,500 per lot) in Tucson. Located at the southwest corner of I-10 and Kolb Road, Sycamore Point is a new community for Richmond American Homes that will be joining D.R. Horton there. This transaction is the first phase of a two-part option for 84 finished SFR lots. The lots are 40’ x 110’. The developer and seller is West Kolb, LLC and affiliate of R.B. Price Company (Richard B. Price, managing member) of Tucson.

Dan Feig and Aaron Mendenhall with Chapman Lindsey of Tucson handled both of these transactions.

Richmond American is a wholly owned subsidiary of M.D.C. Holdings, Inc., (NYSE:MDC) a Delaware Corporation based in Colorado since 1972. The homebuilding operations are comprised of many homebuilding subdivisions. Its Financial Services segment consists of HomeAmerican Mortgage Corporation, which originates mortgage loans mainly for its homebuyers, American Home Insurance Agency, Inc., which offers third-party insurance products to its homebuyers, and American Home Title and Escrow Company, which provides title agency services to the Company and its homebuyers in Colorado, Florida, Maryland, Nevada, Virginia and West Virginia. The Company builds and sells mainly single-family detached homes that are designed and built to meet local customer preferences. The Company is a general contractor for all of its projects and retains subcontractors for land development and home construction.

Richmond American ranked 11 in the top 100 homebuilders for 2012, with 3,740 closing for the year.

Gaulin can be reached at (520) 544-2700. Feig and Mendenhall should be contacted at (520) 747-4000.[/mepr-show]

Login for additional information.
[ismember] Sale date on Gladden Farms was 8/6/2013. Sale date on Sycamore Point was 8/13/2013.  [/ismember]

D.R. Horton (NYSE: DHI) bought 60-lots at The Pines Phase II in Marana for $2.28 million, or $38,000 per finished lot, as part of an option agreement for 123-lots with Terrazzo Homes of Tucson. The lots are on average 40’x 85’ and the builder has introduced an all-new product line ranging in size from 1,613 to 2,969 sq. ft. that take best advantage.

This article has been archived, please login for access or subscribe now by going to the subscribe tab at the top of page.

[mepr-show rules=”58038″]D.R. Horton, a Texas-based company is one of the largest homebuilders in the United States, operating in 26 states and 77 metropolitan markets.

The Pines is located north of Arizona Pavilions in the shadow of Sombrero Peak, on the 18-hole Quarry Pines Golf Course, with a mix of dramatic elevations  and stunning mountain views.

This gated community with community pool is D.R. Horton’s newest community.

The Pines was developed by Standard Pacific of Tucson in 2007. Phase I has 129-lots on 21 acres with home builders such as D.R. Horton and Maracay Homes committed. Phase II of the Pines is a total of 265-lots on approximately 30 acres, plus 25 acres of open space and common area. D.R. Horton is the first builder commitment in Phase II.

The Pines is open and selling now, with five models. Hours are 9:30 – 5:30 every day, except Wednesday when it opens at noon- 5:30.

Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction for seller and builder.

Feig should be reached at (520) 747-4000 ext. 103 and Mendenhall is at (520) 747-4000 ext. 102. The Pines sales office can be contacted at (520) 575-5108.[/mepr-show]